Indiana Code 24-4.5-3-405. Limitation on default charges
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Sec. 405. Limitation on Default Charges — Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this Article. A provision in violation of this section is unenforceable.
Formerly: Acts 1971, P.L.366, SEC.4.